A deep dive into Asian Paints Ltd. (ASIANPAINT): the financials, the valuation picture, and who owns the stock.
Asian Paints Revenue Trend
Asian Paints Ltd. posted revenue of ₹36,307 Cr in FY2026, a 5.3% step up on the ₹34,478 Cr booked in FY2025.
Pull back ten years and the picture is steady rather than spectacular: revenue has compounded at 8.9% a year, climbing from ₹15,534 Cr to ₹36,307 Cr.
At ₹36,307 Cr on the top line, Asian Paints Ltd. operates at meaningful scale within the paints sector.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹36,307 Cr | +5.3% |
| FY2025 | ₹34,478 Cr | -4.7% |
| FY2024 | ₹36,183 Cr | +4.9% |
| FY2023 | ₹34,489 Cr | +18.5% |
| FY2022 | ₹29,101 Cr | — |
View Asian Paints Ltd.'s full 10-year revenue trend with CAGR analysis →
Asian Paints Profitability
The bottom line was the brighter spot. Net profit came in at ₹4,395 Cr for FY2026, ahead of FY2025 by 18.5%.
Net margin expanded to 12.1% in FY2026, up from 10.8% the year before.
On a per-share basis, diluted earnings rose to ₹45.11 in FY2026 from ₹38.25 in FY2025.
Is Asian Paints Undervalued
Run the numbers through the P/E Ratio model and it lands on a fair value of ₹3,267 for Asian Paints Ltd.
Asian Paints Ltd. currently trades at ₹2,661.20.
Craytheon also works out intrinsic value using the EPS Growth and DCF models. The detailed analysis lays out the full breakdown and the assumptions behind each.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹3,267 | 22.8% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for Asian Paints Ltd. with detailed assumptions →
Asian Paints Shareholding Pattern
Promoter holding held steady at 52.6%, with no purchases or sales across the past four quarters.
Foreign investors owned 12.1% of the company as of March 2026, edging up from 11.8% a year earlier.
Domestic institutional investors (DIIs) held 21.8% as of March 2026, up from 21.0% twelve months before.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 52.6% | 12.1% | 21.8% | 13.4% |
| Dec 2025 | 52.6% | 12.8% | 21.1% | 13.4% |
| Sep 2025 | 52.6% | 11.6% | 21.6% | 14.1% |
| Jun 2025 | 52.6% | 11.8% | 21.0% | 14.4% |
Track quarterly shareholding changes for Asian Paints Ltd. →
Asian Paints Balance Sheet
Proportional view as of 23 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
In FY2026, the total asset base came in at ₹345.34B, up 13.7% YoY from ₹303.71B.
Property, Plant & Equipment accounts for 26.0% of the total, ahead of Other Assets (20.6%) and Cash & ST Investments (20.1%).
Capital structure: 63.7% equity, 11.4% debt, 24.9% operating liabilities. Over the year, debt is up 71.5% and equity is up 9.8%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 69.59B |
| Receivables | 44.62B |
| Inventories | 57.44B |
| Property, Plant & Equipment | 89.95B |
| Investments | 7.76B |
| Intangibles & Goodwill | 4.75B |
| Other Assets | 71.24B |
| Category | Value |
|---|---|
| Equity | 220.15B |
| Short-term Debt | 13.75B |
| Long-term Debt | 25.54B |
| Trade Payables | 38.63B |
| Other Liabilities | 47.28B |
Asian Paints Key Highlights
So what stands out in Asian Paints Ltd.'s (ASIANPAINT) latest numbers? Here is the summary.
Revenue of ₹36,307 Cr in FY2026, a 5.3% rise year-over-year.
Long-term revenue has compounded at 8.9% annually over a decade.
The business is profitable, turning a net margin of 12.1% on net income of ₹4,395 Cr.
The P/E Ratio model implies 22.8% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
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